A study of 900 women by Siempre Mujer magazine, a Spanish-language publication that covers beauty, fashion and lifestyles for Latinas, found that Latinas prefer details in beauty products, follow a multipronged beauty regimen and tend to outspend women in the general population when it comes to beauty, with more than 52% spending $25 or more per visit. In other words, Latinas represent a significant opportunity for retailers and beauty manufacturers.

Giving the growth of the Hispanic market and the rising buying power, it is important that retailers and manufacturers understand how to effectively connect with this beauty shopper.

By 2016, this demographic group will comprise 17.8% of U.S. residents, furthering its impact on the U.S. economy as its presence and buying power, according to research released in 2011 by IBISWorld, an independent source of industry and market research. Over the next five years, the nation’s buying power is projected to grow 27.5% to $14.7 trillion, while that of the Hispanic population is forecast to grow 48.1% to $1.6 trillion, according to the IBISWorld research. These are significant numbers.

Further illustrating the importance of effectively reaching this year is Mintel’s "Hispanics and Personal Care–U.S., January 2011" report. This report highlights that “Hispanics are brand-conscious, passionate about their appearance and believe that looking good leads you onto the path of success. As such, it is not surprising that Hispanic women have especially strong attitudes toward wearing makeup, most notably for complementing an outfit and enjoying the ritual of putting on makeup.”

With such tremendous buying power and a significant interest in beauty, those retailers and manufacturers that can effectively connect with is beauty-conscious shopper undoubtedly stand to benefit — in a big way.

Poll

Poll

SPECIAL REPORTS

Are we in the midst of a beauty revolution? Perhaps. It is no secret that the ever-changing beauty category is all about trends, but one could argue that we are embarking on an especially interesting time in beauty as technology is changing the way consumers shop and new innovations strive to break through the noise.

In this beauty report, Drug Store News takes a deeper dive into some of the leading trends that are reshaping beauty.more ...

IN THIS ISSUE

In this issue, DSN examines PricewaterhouseCoopers' "Top Health Industry Issues for 2015;" takes you on a tour of Murad, shares beauty trends and insights and delves into location-based technology and how it is revolutionizing health, retail.Click here to view the issue.